Invesco Ltd. Has $5.15 Million Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Invesco Ltd. trimmed its stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 20.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 117,652 shares of the company's stock after selling 29,594 shares during the period. Invesco Ltd. owned about 0.07% of Revolution Medicines worth $5,146,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in Revolution Medicines during the 3rd quarter valued at about $801,000. Barclays PLC increased its holdings in Revolution Medicines by 187.1% during the 3rd quarter. Barclays PLC now owns 294,664 shares of the company's stock valued at $13,362,000 after purchasing an additional 192,021 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in Revolution Medicines by 92.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 61,980 shares of the company's stock valued at $2,711,000 after purchasing an additional 29,853 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Revolution Medicines by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,931,114 shares of the company's stock worth $84,467,000 after purchasing an additional 167,997 shares in the last quarter. Finally, Sandy Cove Advisors LLC acquired a new stake in shares of Revolution Medicines in the fourth quarter valued at $1,837,000. 94.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RVMD has been the subject of a number of research analyst reports. Stifel Nicolaus dropped their target price on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Wedbush reiterated an "outperform" rating and issued a $67.00 price objective on shares of Revolution Medicines in a research report on Monday. HC Wainwright boosted their target price on Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Needham & Company LLC reiterated a "buy" rating and issued a $59.00 price target on shares of Revolution Medicines in a report on Tuesday, April 8th. Finally, UBS Group lifted their price objective on Revolution Medicines from $65.00 to $71.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $66.67.

Revolution Medicines Price Performance

Shares of Revolution Medicines stock traded down $0.80 during trading on Tuesday, hitting $40.67. 3,037,774 shares of the company were exchanged, compared to its average volume of 1,443,861. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $62.40. The firm has a market capitalization of $7.56 billion, a P/E ratio of -11.33 and a beta of 1.37. The firm's fifty day moving average price is $37.42 and its 200 day moving average price is $43.95.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.11). As a group, equities research analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Mark A. Goldsmith sold 11,738 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $458,251.52. Following the completion of the transaction, the insider now owns 441,564 shares in the company, valued at approximately $17,238,658.56. This represents a 2.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jack Anders sold 1,864 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $72,770.56. Following the completion of the transaction, the chief financial officer now directly owns 115,006 shares of the company's stock, valued at approximately $4,489,834.24. This trade represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,660 shares of company stock valued at $650,406. Company insiders own 8.00% of the company's stock.

About Revolution Medicines

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company's research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.